STATEMENT OF PROFIT AND LOSS
for the year ended 31st March, 2019
| Particulars | Note No. | Amount (Rs.) |
| I. Revenue from Operations (Net Sales) | 36,00,000 | |
| II. Expenses | ||
| Purchases of Stock-in-Trade | 28,16,000 | |
| Change in Inventories of Stock-in-Trade | (65,000) | |
| Finance Costs | 15,000 | |
| Depreciation and Amortisation Expenses | 80,000 | |
| Other Expenses | 5,34,000 | |
| Total | 33,80,000 | |
| III. Profit before Tax (I − II) | 2,20,000 | |
| IV. Less: Provision for Tax | 40,000 | |
| V. Profit after Tax (III − IV) | 1,80,000 |
BALANCE SHEET
as at 31st March, 2019
| Particulars | Note No. | 31st March, 2019 Amount (Rs.) | 31st March, 2018 Amount(Rs.) |
| I. EQUITY AND LIABILITIES | |||
| 1. Shareholders’ Funds | |||
| (a) Share Capital | 6,00,000 | 5,00,000 | |
| (b) Reserves and Surplus | 1 | 3,00,000 | 1,20,000 |
| 2. Non-Current Liabilities | |||
| Long-term Loan | 1,20,000 | 1,50,000 | |
| 3. Current Liabilities | |||
| (a) Short-term Borrowings: Bank Overdraft | 13,000 | … | |
| (b) Trade Payables (Creditors) | 2,85,000 | 2,38,000 | |
| (c) Short-term Provision: Provision form Tax | 44,000 | 30,000 | |
| Total | 13,62,000 | 10,38,000 | |
| II. ASSETS | |||
| 1. Non-Current Assets | |||
| Fixed Assets | 6,20,000 | 4,00,000 | |
| 2. Current Assets | |||
| (a) Short-term Investments (Marketable Security) | 34,000 | 20,000 | |
| (b) Inventories | 3,28,000 | 2,63,000 | |
| (c) Trade Receivables | 3,48,000 | 3,10,000 | |
| (d) Cash and Cash Equivalents | 2 | 32,000 | 45,000 |
| Total | 13,62,000 | 10,38,000 |
Notes to Accounts
| Particulars | 31st March, 2019 Amount (Rs.) | 31st March, 2018 Amount (Rs.) |
| 1. Reserves and Surplus | ||
| Surplus, i.e., Balance in Statement of Profit and Loss | 3,00,000 | 1,20,000 |
| 2. Cash and Cash Equivalents | ||
| Cash in Hand | 32,000 | 17,000 |
| Cash at Bank | … | 28,000 |
| 32,000 | 45,000 |
SOLUTION
